April 11, 2012

...AND CHEAPER...:

Plummeting natural-gas prices are pushing U.S. industries into virgin terrain, even beginning to dislodge cheap Western coal from its once-untouchable perch as the nation's favorite fuel for power production.

On Tuesday, natural-gas futures settled at $2.03 per million British thermal units--just a hint above $2, the lowest price since January 2002.

The shock wave for industry could intensify this summer because the U.S. is running out of room to store the glut of natural gas, which could drive gas prices down to sustained lows not seen in decades.